focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Mr. Greenlanteren64,
Thank you for the link to Tamboran's proactiveinvestors update. Although the alacrity of the appraisal well seems remarkable, one should not be surprised as we harken back to Tamboran CEO's earlier comment that they would be employing deeply experienced personnel utilizing 7th generation shale learnings in their program.
Gas inquiry follows agency funds block
4 hours ago2 views0
Australia’s oil and gas industry faces a parliamentary inquiry after Pauline Hanson backed a Greens motion in the Senate.
Greens co-deputy leader Larissa Waters successfully moved on Wednesday to set up an inquiry, which will hand down an interim report in August, into oil and gas exploration and production in the Northern Territory’s Beetaloo basin.
The federal government is spending hundreds of millions of dollars to unlock the basin for gas production by 2025.
The inquiry will examine not only whether the spending is worthwhile, but the social and environmental consequences of oil and gas exploration and production.
The motion came as Senator Hanson effectively handed another win to Labor and the Greens by abstaining on a motion on Tuesday to stop Australia’s renewable energy agency investing in non-renewable technologies.
The Morrison government wanted to expand the remit of an agency known as ARENA to allow it to invest in low-emissions projects such as carbon capture and storage, green steel and hydrogen.
But the Greens, Labor and various crossbench senators teamed up to veto the changes.
“As a result, the government cannot use public money to fund coal and gas projects through the renewable energy agency,” Greens leader Adam Bandt said.
“It’s a really big win for the climate and it’s a huge blow to this coal and gas-fired government.”
Senator Hanson abstained from the vote, allowing the disallowance motion to pass.
It is understood Senator Hanson did not like the idea that gas companies who paid no tax in Australia but handed dividends to foreign shareholders stood to benefit from the expanded investment remit.
She said in a statement on Wednesday she was opposed to billions of dollars being paid to placate “climate change zealots”.
“One Nation is firmly committed against net zero emissions by 2050,” she said.
Pro-coal Labor renegade Joel Fitzgibbon railed against the ARENA vote result, describing it as “the victory I did not want”.
Meanwhile, Nationals leader Barnaby Joyce said the march towards a target of net zero emissions by 2050 should be seen from a jobs perspective.
“Our nation has got to pay its way,” he told reporters.
“We make our money through exports and exports are emission-intensive.
“If you don’t like your exports, well just start telling me how low you want to take your standard of living.”
Mr Joyce has downplayed the prospects of clinching a quick deal with the Liberals.
“We don’t have to worry about conditions, that’s a long way off,” he said.
Nationals senator Bridget McKenzie has also spoken out ahead of negotiations between the coalition partners.
She warned Australia risked sleepwalking into an international agreement on net zero emissions, which favoured rich industrialised nations with the competitive advantage of established low-emission technologies such as nuclear power.
Prime Minister S
POODS, thank you for sharing your sage advice. And, I have to ask as you tell us how many shares you own and plan to own, what percentage of your portfolio do they represent? I would guess, based on your obvious sophistication, that you would keep them under 10%. I think rather than telling us how many you own, it would be more instructive to know what percentage of your portfolio you are risking.
gonoles, can't get a much clearer picture of programed sales from Sweet Pea as we see selling with abandon at this significant phase of the Beetaloo. I just wonder when they'll be out of inventory.
and...................like that (snap)----the gain was gone. Business as usual reappeared.
ITguy, Sweet!!!
Newto,
Thanks for NOT parading out the Unicorns and Rainbows and giving a commonsense and thoughtful argument.
This was a fun paragraph: “These are world class people using the latest technology, so a real focus for the company is to make sure that we’re designing seventh generation shale wells, not starting out with generation one, which is really one of the keys to unlocking the value in the Beetaloo.”
What???? Well, they won't be poaching from Origin for their talent.....
That can't be right, they haven't been drilling for 2 plus years-- no way could they be flaring!!!!!
Hot stock in the Karoo, please don't read if you are easily upset.....
https://ihsmarkit.com/research-analysis/the-permian-wave.html
South Africa Says Pockets of Shale Gas Hit in Karoo Region
Reuters
Tue, 05/18/2021 - 03:27 PM
South Africa said on May 18 it had hit pockets of shale gas during test drilling in the semi-desert Karoo region.
A decade ago the Karoo sparked intense interest from companies including Shell, Sasol and Falcon Oil & Gas, but farmers went to court to challenge any drilling in the ecologically-sensitive region, which saw enthusiasm wane amid regulatory uncertainty.
“The first pocket of gas was intercepted at 1,734 meters with a further substantial amount intercepted at 2,467 meters spanning a depth of 55 meters,” South African energy minister Gwede Mantashe said during his budget vote in parliament.
A total of 34 gas samples had been bottled and taken to laboratories, he said, after government’s Council for Geosciences set out to drill a 3,500-m stratigraphic hole in the Karoo to establish and test the occurrence of shale gas.
In 2017, geologists at the University of Johannesburg and three other institutions estimated the gas resource in the Karoo was probably 13 trillion cubic feet (Tcf), the bottom of a range of estimates that had put deposits between 13 Tcf to 390 Tcf.
In 2015, the U.S. Energy and Information Administration estimated the Karoo Basin’s “technically recoverable shale gas resource” at 390 Tcf, then making it the 8th largest in the world and second largest in Africa, behind Algeria.
TRCH just created a massive short squeeze in a move that is seldom see utilizing a special dividend of a share reward. Here's some comments that discuss it:
Premium
Comments (26)
|
There is a lot of chatter on Twitter that this merger and special dividend will force short sellers to close their positions, thus possible forcing a short squeeze. Is there anything to that?
Like
sunyatsen
Today, 7:11 AM
Premium
Comments (217)
|
@andersrodland I believe it to be true
Like
JeffSizemore
Today, 12:56 PM
Comments (1.84K)
|
@andersrodland yes. Shorts will have to buy shares of the preferred stock in addition to torchlight to return to the owner. The owner is still entitled to both their original share and new shares
Newto, and Santos trades in the US with the current ask is $6.04 US. Here's a thumbnail blurb on Santos/Tambo : https://www.energy-pedia.com/news/australia/santos-spuds-tanumbirini-2-on-ep-161-182908
And, I didn't know this----Santos Limited (STO.ASX)(OTCPK:SSLZY)(OTCPK:STOSF) comes from an acronym of South Australia Northern Territory Oil Search.
Maybe there was nothing to update.....
As usual, we're just guessing....
"Gas lift is a preferred lifting method to produce unconventional wells across the world. During specific stages of the well life, however, it might happen that water percentage raises enough to make the tubing flow gradient too high for lifting with the maximum operating pressure and rate of injection gas. This results in unplanned nonproductive time. A slickline-deployable jet pump can be a cost-effective alternative to effectively unload the well and resume production with gas lift.
The addition of a sliding sleeve door (SSD) to the tubing string, installed between the deepest gas lift mandrel and the annular packer, will allow the deployment of a slickline-set jet pump. The backup jet pump provides a valuable and cost-effective alternative in three potential scenarios: when unloading fracking fluids before beginning gas-lift production, when restoring production after an unpredicted shutdown of the gas-lift compression system, and when the producing water cut becomes higher than expected.
An operator in Logan County, Oklahoma, installed the gas lift-jet pump hybrid completion in five wells. The completion was basically designed for gas lift with a standard "X" profile SSD installed between the packer and the operating gas-lift valve. The dual-purpose tubing string was installed in each well in one trip. To produce fracking fluids left in the wellbore, standard-flow jet pumps were set in the SSD, mobile hydraulic-lift surface units were hooked up to the Christmas tree and jet pump production operation started. On average, fracking water was produced 66% faster than by swabbing and rod pumping, and 33% faster than with nitrogen lift. Upon recovery of the fracking fluids, the wells were producing enough gas to successfully start the gas lift systems in approximately 6 days.
This simple but ingenious dual-purpose completion approach has already proved to solve the problem of unconventional well production load-up during the early production stage of gas lifted systems. The information provided in this paper will help operators plan, design, deploy, and operate a dual-purpose gas lift-jet pump well completion."
newto,
It all hinges on commerciality, and that won't be known until multiple zones are tested. I assume it will take another 3 plus years to get to that point. Of course, during that time some company in the Beetaloo will figure out how to streamline costs, so the silly expenses we've seen to date will be greatly reduced--I'm looking at Tamboran to give a good indication of well costs and drilling time. So, I'm resigned to just sitting and watching as the months tick by. Heck, I refuse to stay ****ed 24 /7 for years on end.
Our big plans for this drilling season were for a workover and a vertical---both will probably disappoint (based on Origin's performance to date). We need to keep an eye on the other active participants in the Beetaloo to get confirmation on play. What we should be discussing is damage done to FOG's value by having it so intertwined with Origin's incompetence that it's value has been reduced. I can't imagine another company wanting to climb in bed with Origin and taking FOG's subservient position.
Green, so Santos is tapping Origin for a 5 well program???
That is hilarious. Insto's want to get exposure to the Beetaloo, but they don't want anything to do with the Origin train wreck.
We should print bumper stickers: BEETALOO, anyone but ORIGIN.